Tether stablecoin supply increased by another 3 billion USDT

Tether's circulating supply has increased to $76 billion as the project team released$3 billion asset, with $1 billion of the new coins deposited on the Tron network.

According to available data, USDT's new circulating supply, which stands at around $76 billion, is currently almost half that of its closest competitor USD Coin (USDC).

Typically the "printing" press is turned on when USDTis facing increased criticism from experts who argue that very few stablecoins are fully backed by dollar reserves. Only 2.9% of its Tether supply is backed by dollar reserves, the Financial Times reported.

Although Tether has stepped up sinceensuring transparency, the attention of regulators and the community remains unabated. Recently, the Commodity Futures Trading Commission fined Tether $ 41 million for lack of clear information.

We question the legitimacy of Tether, so weWe are announcing the Hindenburg Tether Bounty Program, which rewards up to $ 1,000,000 for details of the backing of Tether, an initiative by researchers at Hindenburg Research.

Meanwhile, other stablecoin projects alsotake steps to ensure transparency. USDC issuer Circle said it would take all necessary action after the Securities and Exchange Commission summoned the organization to court.

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